India's Sports Boom: A Catalyst for Economic Growth and Business Expansion
Minister Jayant Chaudhary highlights sports’ role in shaping India's economic and educational landscape at the RCB Innovation Lab Indian Sports Summit.
BNH NETWORK
Bengaluru - India’s sports industry is emerging as a game-changer for economic growth, business opportunities, and education. Speaking at the RCB Innovation Lab Indian Sports Summit at the Padukone Dravid Centre for Sports Excellence, Jayant Chaudhary, MoS (Independent Charge), Skill Development and Entrepreneurship, emphasized that sports will play a pivotal role in driving India’s economy and enhancing entrepreneurship opportunities.
“The role of sports can be significant in driving the economy and fuel business in the nation,” said Chaudhary.
He also lauded the National Education Policy (NEP) 2020 for its progressive integration of sports into the formal education system. “Now we have a progressive policy that understands the need for freedom, exposure, and a multidisciplinary approach. Equity in access to school children of all ages is vital,” he added.
Fact File:
- India’s sports goods market projection: US$ 6.6 billion by 2027
- Employment in sporting goods manufacturing: Over 500,000 people
- New sports universities in India: Uttar Pradesh & Telangana
- IIT Madras Centre of Excellence: Focus on sports analytics and science
- India’s bid for the 2036 Olympics: Focus on infrastructure and fan experience
Sports as an Economic Engine
Chaudhary highlighted that the Indian sports goods market is poised for significant expansion, set to grow from US$ 3.9 billion in 2020-21 to US$ 6.6 billion by 2027. He pointed out that sporting goods manufacturing already employs over 500,000 people in India, and with the right policies, this number is expected to rise.
Additionally, the establishment of dedicated sports universities in Uttar Pradesh and Telangana marks a turning point for sports education, paving the way for new employment opportunities for retired athletes and sports professionals.
“There’s already a Centre of Excellence at IIT Madras for sports analytics and science, and we see more job opportunities opening up, especially for small businesses in the sports sector,” he added.
Telangana’s Push for a Sporting Revolution
Jayesh Ranjan, Special Chief Secretary of Industries & Commerce and IT Departments of the Telangana Government, shared how streamlined decision-making processes are fast-tracking India’s sports growth.
“Every decision will be taken at a maximum of two levels and within a fortnight to ensure we eliminate red tape,” Ranjan emphasized.
The state’s proactive stance on sports development aims to create an ecosystem that fosters investment and accelerates infrastructure growth.
India’s 2036 Olympic Dream
With India strongly pushing to host the 2036 Olympics, Prashanth Shawn Doss of Elevate highlighted the need for world-class sports infrastructure.
“We have an enormous community passionate about change. India has the economy, ambition, and talent. Now is the time to perfect the fan experience and take Indian sports to the next level,” he said.
Virat Kohli’s Vision for India’s Sporting Future
The event concluded with a fireside chat featuring Virat Kohli, who shared his insights on India’s sporting evolution.
“India has the potential to be a sports-forward nation. We need to continue investing in infrastructure and nurturing young talent,” said the RCB legend.
The RCB Innovation Lab Indian Sports Summit wrapped up on a high note, reinforcing India’s ambitious journey toward becoming a global sporting superpower.
